Financial Daily from THE HINDU group of publications
Saturday, June 18, 2005
Markets (July 25)
BL 2502325.28 (+12.27)
BSE Sensex7505.60(+82.35)
S&P CNX Nifty2291.75 (+26.15)
US Dollar (Buy/Sell)43.51/43.63
Gold Std (10 gm)6085 (+35)

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ANNOUNCEMENTS


Jurong to build township at Rushikonda
JURONG India has been appointed as the architect, engineer and construction manager for Sunny Isles - a premium residential enclave at Rushikonda near Visakhapatnam, by KSR Constructions, a developer engaged in real estate. Jurong India is a ... More

Aurobindo gets USFDA nod for AIDS drug
AUROBINDO Pharma Ltd has announced that it has received the approval of the United States Food and Drug Administration (USFDA) for Lamivudine, a key anti-retroviral (ARV) in the treatment of AIDS. The company said the development enables it to ... More

GMR may exit ING Vysya Life
GMR Industries Ltd has informed the stock exchanges that its board of directors at a meeting on June 16 considered exploring divestment of equity shares held in ING Vysya Life Insurance Company Ltd to meet the cash requirement for expansion and ... More

Thirumalai Chem hikes prices of two products
THIRUMALAI Chemicals Ltd has hiked prices of two of its main products after reducing them by 15 per cent and 20 per cent at the beginning of this month. The price drop of the two products - phthalic anhydride and maleic anhydride - is ... More

Indian Potash to tap Lankan market
INDIAN Potash Ltd will soon float a subsidiary in Sri Lanka to tap the fertiliser market there. In the long term, it plans to exploit other markets in the region, according to the company's Managing Director, Mr P.S. Gahlaut. Addressing ... More

CORPORATE DISPUTES


Mukesh, Anil agree on 5-yr `non-compete' clause
Settlement expected `any time'

THE settlement between Mr Mukesh Ambani and Mr Anil Ambani is likely to happen before the anticipated date of July 6, as the two brothers are ready with the draft pending last-mile modalities involving tax experts. A formal announcement is now ... More

OVERSEAS BORROWINGS


Visaka Ind plans FCCB issue to fund expansion
VISAKA Industries Ltd is considering an $18-million foreign currency convertible bond issue to finance Rs 200-crore expansion plan in textiles and a Rs 30-crore expansion in asbestos cement sheet manufacturing capability. Alternatively, the ... More

COMPANY LAW


SEBI cannot be sole regulator for cos accessing market: Irani panel
`Concern over regulatory overlap misplaced'

The panel has made a case for "harmonious construction" of the operation of the state and regulatory agencies set up by it. More

MERGERS & ACQUISITIONS


Sami Labs eyes overseas acquisitions
SAMI Labs Ltd (SLL) - which manufactures products based on medicinal herbal plants - is looking for acquisitions in Europe, the US and India. The company expects to double the sales turnover during the current year, according to Dr ... More

NEW PROJECTS


Pergo launches design centre in Kochi
THE Swedish multinational Pergo, dealing in laminate flooring worldwide, has opened its design centre at Kochi on Friday. Speaking to presspersons, Mr K.R. Shivshankar, CEO, Pergo India Pvt Ltd, said the company, which launched its Indian ... More

BONUS ANNOUNCEMENTS


Praj Ind board okays 1:1 bonus issue, stock split
PRAJ Industries Ltd on Friday said its board of directors has recommended issue of bonus shares, subdivision in share and an employee stock option plan. The bonus issue is in the ratio of one share for every existing share (1:1) and splitting ... More

ITC board recommends share split, 1:2 bonus
THE ITC Ltd board, at its meeting on Friday, inter alia, recommended a share split and issue of bonus shares for the approval of shareholders at the company's 94th annual general meeting on July 29. The board also recommended an increase in ... More

OUTLOOK


Everest eyes Rs 500-cr revenue in 4 years
EVEREST Industries Ltd, manufacturerof fibre cement roofing under the brand name Everest, is targeting a revenue of Rs 500 crore in the next four years from Rs 227 crore now, according to the company's Executive Director (Marketing) Mr Manish ... More

SAIL draws up Rs 400-cr investment plans for DSP
STEEL Authority of India Ltd (SAIL) has lined up approximately Rs 400 crore worth of investments for Durgapur Steel Plant (DSP) for 2005-06. This is part of the Rs 2,800-crore modernisation plan chalked out by SAIL for DSP in its Corporate Plan ... More

GM plans to capture 10 pc market share by 2010 — Launch of small cars on cards
GENERAL Motors India today said it plans to capture a 10 per cent share in the country's automobile market by 2010 and build up India as a major export base. The company plans to increase sourcing of products from India from the current level ... More


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